Best Cheap Home Insurance in Gilbert
Since 2018, 72.7% of Gilbert’s residents owned a house with a median real estate value of $ 310,400. The average annual home insurance premium in Gilbert is $ 1,101 for a $ 250,000 home, according to Bankrate’s 2021 premium study. This compares favorably to the average annual premium for an Arizona home insurance policy of $ 1,304. It is also lower than the national average of $ 1,477.
Gilbert, Arizona, is the second safest city in the United States, according to the FBI. However, forest fires and other hazards can pose a risk to the Gilbert Desert environment, potentially damaging homes in the area. Bankrate’s insurance editorial team gathered up-to-date premium data from Quadrant Information Services for the city’s popular home insurance companies to find the best inexpensive options.
Best Cheap Home Insurance Companies in Gilbert
The table below reflects the wide range of rankings among selected insurers for customer satisfaction according to the 2020 JD Power US Home Insurance Study. Nonetheless, each company was chosen for particular qualities, including size, customer experience and financial strength, a wide choice of policies, price, and a number of discounts that customers can use to find insurance coverage. affordable home insurance.
|Home insurance company||Average annual premium for a liability of $ 250,000||JD Power Score|
|United States||$ 530||* 889/1000|
|At national scale||$ 664||808/1000|
|Car owners||$ 952||843/1000|
* USAA is not eligible for an official JD Power ranking due to its membership restrictions.
Although USAA does not qualify for an official JD Power rating due to its exclusive service to current and former members of the military and their families, the company is highly regarded by consumers. USAA achieved the highest score for customer satisfaction at 889 out of 1,000 points. This rating reflects an excellent reputation for customer service.
USAA also receives exceptional award A ++ (Superior) rating for financial strength by AM Best. As the chart shows, USAA home insurance is also affordable with average premiums well below Gilbert’s average.
Learn more: USAA Insurance Review
At national scale
Nationwide is one of the largest insurers in the United States with an excellent A + Rating (Superior) with AM Best. Nationwide is able to provide comprehensive coverage at affordable prices and offers many discounts to most homeowners.
Nationwide sets itself apart by offering some coverage as part of basic packages, which other carriers only offer at additional cost. For example, Nationwide coverage by ordinance or law comes with basic coverage. Coverage by ordinance or statute ensures that by repairing or replacing a home after a covered loss, the insurer will pay the additional cost necessary to meet new or updated building and zoning codes.
Learn more: National Insurance Review
Progressive is one of the best-known home insurance companies in the country. The financial ratings of AM Best, Moody’s and Standard and Poor are generally good. The company stands out with its online presence. Progressive’s user-friendly website makes it easy for applicants to review and price a variety of coverage options.
Progressive has a solid offering of coverage with a number of extensions, which can be combined with basic coverage to tailor a home insurance policy to most needs. Progressive’s many discount options also help keep policies affordable.
Learn more: Gradual insurance review
The American Automobile Association (AAA) has been providing home and other personal insurance policies for over a century. Its structure is unique, being composed of 61 million individual members, 32 automobile clubs and more than 1,000 branches spread across the continent. While it is necessary to pay for a membership before getting a quote, the many discounts available to members could more than offset membership fees.
Specific coverage options often vary from club to club. However, there may be benefits that come with an AAA membership beyond several add-on options and discounts. For example, your membership may entitle you to benefits such as automatic roadside assistance, vacation planning programs, and identity theft protection.
Learn more: AAA Assurance Review
Auto owners rank among the best for customer satisfaction with JD Power and are known for their long-term financial strength and stability. The company is also able to keep prices affordable with solid policy plans.
Auto owners are not available in all states, although home insurance plans are available in Arizona. Its policies are robust with a number of solid add-ons available and plenty of discounts to keep prices low. Auto-Owners operates through a network of independent agents who can provide personal assistance from obtaining initial quotes to processing claims.
Learn more: Automobile Owners Insurance Review
Home insurance coverage options in Gilbert
Although home insurance is not required by law in Arizona, most mortgage lenders require their borrowers to insure the mortgaged property. Beyond that, it’s important to look for ways to protect what is often people’s biggest investment: their home.
In some ways, with its low crime rate and high percentage of home ownership, Gilbert does not present some of the location risks encountered in other parts of the country. There are, however, specific weather threats that present dangers to Gilbert owners. Here are some great options for Gilbert residents:
- Fire coverage: The dry and hot summer environment in Arizona presents forest fire risks. Fire insurance is usually included in home insurance policies and covers property damage and losses you may suffer in the event of a fire.
- Flood insurance: Gilbert is subject to flash floods during the monsoon, which usually runs from June 15 to September 15. Flood insurance is not included in standard home insurance policies. Homes located in high risk flood prone areas that have government insured loans are often required to have flood insurance.
- Wind cover: Insurance companies deal with wind coverage in various ways. In many states prone to hurricane and tornado risk, a separate wind policy is required. Residents of Gilbert should consider asking agents to explain how an insurer covers wind hazard in Arizona.
Home insurance discounts in Gilbert
Most insurance companies offer several discounts for home insurance policies. These are usually related to the characteristics of the property, the policyholder and many other factors. Here are some of the most popular discounts:
- Grouping – Most insurers offer discounts to those who buy two or more policies. For example, one of the most common bundle discounts is offered to those who insure both their home and vehicles with the same company.
- Loyalty discount – This reduces a home insurance premium by a certain percentage after a customer has been insured by the same company for a period of time. It is a reward for loyalty and an incentive to stay with the carrier.
- Claims history – This discount is offered to customers with little or no complaints. Often, this discount will reduce your premium after a certain loss-free period.
- Home Improvements – This discount varies according to the different insurers. Many upgrades can protect a home from future damage or depreciation, such as new roofs or window treatments. Consider asking your supplier what upgrades qualify.
The above discounts are all available in Arizona. Discounts for seniors could be particularly attractive in the state due to the high percentage of retirees in Arizona. Additionally, you can search for endorsements that specifically address Arizona hazards, such as wildfires. Ask your operator about potential discounts available for fire alarm installation and fire safety upgrades.
Frequently Asked Questions
What is the best home insurance company?
There are probably several insurance companies that can offer you the best home insurance policy. It is important to look beyond the price and seek quotes from various insurers. Comparing policies and available options, discounts and claims processing can help you find the coverage that best meets your needs.
How much does home insurance cost in Gilbert?
The average cost of home insurance in Arizona is $ 1,101 per year for $ 250,000 home coverage. That’s below the national average and above the average annual fares for carriers in this article. However, the specific cost of your home insurance will depend on a wide variety of factors, including your personal circumstances, such as the condition and location of your home.
How much home insurance do I need in Gilbert?
Many insurance companies require at least $ 100,000 of liability insurance for home insurance. although most people turn to higher limits which help cover the value of an insured’s assets. Some are even considering a comprehensive umbrella policy with limits over $ 1 million. When setting property lines to cover damage or destruction to your home, it helps to carefully assess the true replacement cost required to rebuild.
Bankrate uses Quadrant Information Services to analyze 2021 rates for all postal codes and carriers in all 50 states and Washington, DC Rates shown are based on 40 year old male and female owners with clean claim history , good credit and the following coverage limits:
- Coverage A, Housing: $ 250,000
- Cover B, Other structures: $ 25,000
- Coverage C, Personal Property: $ 125,000
- Coverage D, Loss of use: $ 50,000
- Cover E, liability: $ 300,000
- Coverage F, Medical Payments: $ 1,000
Homeowners also have a $ 1,000 deductible and a separate wind and hail deductible (if required).
These are sample rates and should only be used for comparison purposes. Your quotes will be different.